Standing with his arms folded in the drab administration room of the London School of Business and Finance (LSBF), PeteNguyen cuts a despondent figure. Just two months ago he was busy studying for a masters at St. Patrick's College—a for-profit business school which works with LSBF. His aim was clear: The 22-year-old international student from Vietman wanted to stand out from the crowd with an extra degree,...